The company said it sees earnings of 36 to 70 cents a share for the fourth quarter, well below the current average estimate of analysts polled by Thomson Reuters for a profit of $1.08 a share.

Netflix also said it expects to report a consolidated net loss in the first quarter of fiscal 2012, and that it's pausing on further international expansion after pushing into the United Kingdom and halting buybacks in order to maintain cash at adequate levels to "support the growth of the business."

The stock was last quoted at $85.86, down 28%, on volume of more than 6.5 million, according to Nasdaq.com. The after-hours low of $85 represents a new 52-week low for the shares and their lowest level since May 2010.

Netflix said it's experienced a "wave" of cancellations since unveiling a new pricing plan in September, but that this wave "peaked a few weeks ago and cancellations are now steadily declining." The company expects to be slightly negative with additions of streaming net subscribers for the fourth quarter. Domestic streaming subscriptions are forecast between 20 million and 21.5 million for the fourth quarter with domestic DVD subscriptions projected between 10.3 million and 11.3 million, and total international subscriptions pegged between 1.6 million and 2 million.

The company closed the third quarter with 21.45 million streaming subscribers and 13.93 million DVD subscribers.

Texas Instruments

Shares of Texas Instruments ( TXN) ticked lower in extended action on Monday after the chip maker gave an outlook for the current quarter that includes downside to the current consensus view.

The stock was last quoted at $31.25, down 1.4%, on volume of more than 700,000, according to Nasdaq.com.

After the closing bell, TI said it expects earnings of 28 to 36 cents a share for its fiscal fourth quarter on revenue of $3.26 billion to $3.54 billion. The forecast includes acquisition-related costs of 15 cents a share.

The average estimate of analysts polled by Thomson Reuters is for a profit of 52 cents a share in the December-ending quarter on revenue of $3.37 billion.

Shares of Texas Instruments rose more than 4% ahead of the report closing Monday's regular session at $31.69. The sell side was modestly bullish on TI with 24 of the 44 analysts covering the stock at either strong buy (9) or buy (15).

Other stocks moving in late trades included Fortinet ( FTNT), which was up more than 11% to $21.37 on volume of nearly 600,000 after the network security company blew past Wall Street expectations with its third-quarter results as revenue jumped almost 40% year-over-year to $116.4 million; Unisys ( UIS), which jumped more than 18% to $23.70 on volume of roughly 90,000 after the Blue Bell, Pa.-based information technology company posted a per-share profit of $1.63 a share for its third quarter, trouncing the consensus view of 70 cents; and Zions Bancorp ( ZION), which fell nearly 6% to $16.95 on volume of around 65,000 after the Salt Lake City-based bank edged past the average analysts' view with a profit of $65.2 million, or 35 cents a share, in its latest quarter but said loan demand had "softened somewhat."